59% of default are low income
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Families with incomes of up to three minimum wages increased its share in total default of 32% in September 2008 to 59% in March this year in São Paulo, as research showed the Commercial Association of São Paulo (ACSP). For Marcel Solimar, economist of the ACSP, the increased participation of low income households among the total of default reflects the access of a large portion of consumers with lower income in the credit market in recent years.
The research was conducted with 703 consumers who sought information desk in the Central Office of Customer Protection of the Credit (SCPC) the entity, which prepares the monthly survey. According to the survey, the track with an income of three to four minimum wages were reduced from the total in default in the same period, 27% to 17%. Already the track more than four and five minimum wages recorded fall of 18% to 13%, the range over five and up to seven minimum wages rose from 10% to 6%, and families with incomes more than seven minimum wages had decreased from 13% to 5%.
The major cause of default was the unemployment of the interviewee or someone's family, mentioned by 48% of respondents. Then the lack of spending was highlighted by 12%. Solimar out that research has not reflected the recent increase in unemployment, there is a lag of several months between the obtaining of credit and defaults. He believes that the next survey, to be held in September, should show the effect of increased unemployment observed from December on the creditworthiness of consumers.
Solimar noted that between 2006 and 2008 about 20 million CPFs were consulted first, according to data from the SCPC, which indicates a "huge contingent" of consumers who sought some form of financing.
The economist noted that the ACSP greater participation of the poor in the total default does not mean that this section of the population least honor their commitments than the other income groups. According to him, this result indicates that there has been growth in access to credit. He cited studies showing that the SCPC virtually no difference in behavior in terms of default among new consumers - in which the predominant low-income - and the old.
According to research, the meat shop is the largest source of funding, with 34% of debts. Then are the loans (personal loan) and card shop, with 29%, credit card, 19% and check, 18%.
The survey showed that 83% of checks without funds were pre-dated, and that 36% of respondents had more than six rows and 13% over twenty checks without funds. Of the respondents, 17% have stated loan, of which 49% said it was for the payment of debts, 15% for purchase of goods, 15% to help the family and 13% for property reform. Among those who took the loan stated, 58% said that funding was responsible for the default.
The survey of ACSP also showed that 52% of respondents intend to remove their debts over the next 30 days and that 73% should use resources from the salary, which requires cuts in consumption or leisure.
Source: State Agency
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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